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How Long Will Credit Inquiries Stay On My Credit Report?

 


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Having a good credit report is a necessary evil. On one side, it serves the purpose of letting agencies know what kind of a risk you as a client possess. The other side of the coin, is that it is just a piece of paper that does not allow you to explain things on that piece of paper which are inaccurate or need more detail. In order to improve your score you need to have enough established credit but on the other hand you better not have too much or that will work adversely against you. Remember, every time you apply for something and inquiry is placed on your report. So the question comes up, “How Long Will Credit Inquiries Stay on My Credit Report?"

This answer is not always clear cut but most creditors will tell you that inquiries stay on the report for about two years. Unfortunately, many credit reporting companies are secretive about specific details on how and when they report.

A good rule of thumb is this: Only apply for credit that you truly want and do not go after the minor applications such as an oil change card, small limit department store cards, etc. . . The reason for this is that companies look at an “over applier" as a consumer trying to get as much as they can and as quickly as they can. In the end they view this as a pump and dump possibility. Someone that is going to go bankrupt or settle on negotiation of debt in the end.

Another good tip is: Do not apply for greater than one thing at a time. This assures that they will see each application as an individual document and not as someone who is haphazardly applying for a bunch of various products or credit at the same time.

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